Lynas Rare Earths Shares Surge as Quarterly Revenue Jumps on Strong Prices 
Trump Signs Executive Order to Limit Wall Street Investment in Single-Family Homes 
FAA Says It Is Not Blocking Boeing 737 MAX 7 and MAX 10 Certification 
FSU Criticizes ANZ Over Suncorp Bank Job Cuts Amid Post-Acquisition Commitments 
Walmart to Cut PhonePe Stake in IPO as Tiger Global and Microsoft Exit 
Valero Makes First Venezuelan Crude Purchase Under New U.S.-Caracas Deal 
BitGo IPO Prices Above Range, Raises $212.8M in Landmark Crypto Market Debut 
Court Allows Expert Testimony Linking Johnson & Johnson Talc Products to Ovarian Cancer 
JPMorgan and Allen & Company Emerge as Big Winners in Warner Bros Discovery Bidding War 
Global DRAM Chip Shortage Puts Automakers Under New Cost and Supply Pressure 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
Valentino Garavani Dies at 93, Leaving Behind the Timeless Legacy of Valentino Red 
U.S. Vaccine Policy Shifts Under RFK Jr. Create Uncertainty for Pharma and Investors 
Netflix Stock Slips After Earnings as Soft 2026 Guidance Overshadows Subscriber Milestone 
Elon Musk Says Tesla Cybercab and Optimus Production Will Start Slowly Before Rapid Growth 
Lululemon Founder Chip Wilson Escalates Proxy Fight to Remove Advent From Board 
MALVERN, Pa., May 08, 2018 -- Liberty Property Trust (NYSE:LPT), today announced that it has sold Five Crescent Drive, a 207,779 square foot office building at the Philadelphia Navy Yard for $130.5 million. The LEED® Platinum property is currently leased to GSK. The property was purchased by an affiliate of Korea Investment Management Co., Ltd (KIM) as advised by Coretrust Capital Partners, LLC.
“Five Crescent Drive is representative of the forward-looking work environment of the Philadelphia Navy Yard, which is the most successful redevelopment of a former Navy Yard in the nation," said John Gattuso, senior vice president and regional director for Liberty. "It has emerged as a vibrant business hub attracting talent from around the nation and investment from around the globe."
In connection with its joint venture partner, Synterra Partners, Liberty has developed 1.6 million square feet of high-performance office and industrial property at the Navy Yard. Currently under development is 1050 Constitution Avenue for Axalta Coatings Systems.
Liberty was represented by CBRE Capital Markets in the transaction.
About Liberty Property Trust
Liberty Property Trust (NYSE:LPT) is a leader in commercial real estate, serving customers in the United States and United Kingdom, through the development, acquisition, ownership and management of superior industrial and office properties. Liberty's 101 million square foot operating portfolio provides productive work environments for 1,200 tenants.
Inquiries:
Jeanne Leonard
Liberty Property Trust
610.648.1704
